Fiinu PLC reported a widened half-year loss as it presses ahead with the rollout of its Plugin Overdraft and completed the acquisition of Everfex P.S.A.
Fiinu Reports Wider H1 Loss, Pushes Ahead with Plugin Overdraft Rollout and Everfex Acquisition
For the six months to 30 June 2025, the fintech group posted a pre-tax loss of £980,338, compared with £238,173 a year earlier.
The company said costs rose due to development of its white-label solution and preparatory work for the Everfex deal. Fiinu’s cash balance at the period end was £643,490.
In January, the group signed non-binding heads of terms with a UK bank to provide its AI-driven Banking-as-a-Service platform, including the Plugin Overdraft. The product is expected to launch in the fourth quarter of 2025.
The company also raised £1.25 million in February to fund development and bolster working capital.
Post-period, Fiinu completed the £8 million acquisition of Everfex through a share issue, in a reverse takeover approved by shareholders in August.
Additional performance-based consideration of up to £4 million may be payable in 2026. The company has since raised a further £1.4 million in September at a 50% premium to its August subscription price, while also reaching an agreement to settle outstanding warrants with GEM.
Chief executive Dr Marko Sjoblom said the first half of the year had been “a defining period,” highlighting progress on the Plugin Overdraft rollout and capital raising. He added that his objective was to grow Fiinu’s market value to £440 million within 36 months.
